Businesses – Parliamentary Question on the Resumption of Trading

I have received this answer to my recently submitted
Parliamentary Question:

Department
for Business, Energy and Industrial Strategy provided the following answer to
your written parliamentary question (38407):

Question:
To ask the Secretary of State for Business, Energy and Industrial Strategy,
what assumptions a business should make on when they can resume trading so they
can produce a meaningful budget and loan proposal when seeking a loan under the
Coronavirus Business Interruption Loan Scheme. (38407)

Tabled
on: 21 April 2020

Answer:Paul Scully:

The
Government has now taken further steps to ensure that lenders have the
confidence they need to process finance applications swiftly. We have changed
the viability tests so lenders are only required to assess whether a business
was viable pre-COVID-19. Any concerns over its short-to-medium term business
performance due to the uncertainty and impact of COVID-19 cannot be taken into
account in the loan decision. The applicant must however still satisfy the
other eligibility criteria of the CBILS.

About John Redwood

John Redwood won a free place at Kent College, Canterbury, and graduated from Magdalen College Oxford. He is a Distinguished fellow of All Souls, Oxford. A businessman by background, he has set up an investment management business, was both executive and non executive chairman of a quoted industrial PLC, and chaired a manufacturing company with factories in Birmingham, Chicago, India and China. He is the MP for Wokingham, first elected in 1987.